Credit card changes

We’ve made changes to some of our credit card fees for our personal customers and our credit card terms and conditions. These changes are effective from 15 October 2018. Download an updated copy of our Personal Banking fees and limits brochure (PDF 196.4 KB) and our credit card terms and conditions (PDF 170.5 KB). The changes have been summarised below.

Changes to our credit card terms and conditions

The credit card terms and conditions changes clarify when you’ll need to reduce a positive balance on your account, refer to Clause 6 "Your credit limit and positive balances".

Credit card fees removed

Fee type

Previous fee

New fee

Over limit fee



Statement copy fee



Voucher copy fee



Contact centre high use fee



Emergency cash advance overseas



Credit card fees changed

Fee type

Previous fee

New fee

Low Rate Mastercard account fee

$25 every six months

$24 every six months

Domestic cash advance fee

$1 per transaction

$0.90 per transaction

Late payment fee

$3 per late payment

$5 per late payment

Replacement card fee

$10 per request

$9.50 per request

Urgent card delivery fee to a New Zealand address

$25 for metro deliveries; applicable courier charges elsewhere

$2.60 per delivery

Changes to our foreign cheques

We’re making changes to the currencies and the limit we’ll accept for foreign cheque being deposited. These changes will be effective from 31 October 2018. Details of the changes are below.

We'll no longer accept foreign cheques in the following currencies:

  • Canadian dollar (CAD)
  • Swiss franc (CHF)
  • Japanese yen (JPY)
  • Hong Kong dollar (HKD)
  • Euro (EUR)
  • Danish Krone (DKK)
  • Swedish krone (SEK)
  • Singapore dollar (SGD)

Foreign cheques in the above currencies will only be accepted on a collection basis.

Only foreign cheques under the value of NZ$5,000 will be accepted and any foreign cheques over this amount will need to be sent on collection.

Download a copy of the new foreign currency draft/cheque terms and conditions (PDF 110.5 KB) effective from 31 October 2018.

Changes to our General Terms and Conditions

We’ve updated our General Terms and Conditions. A summary of the changes are:

  • Changes to assist us to comply with the new Code of Banking Practice;
  • Changes to clarify your and our rights and obligations in relation to certain products and services (including cards, internet and mobile banking and phone banking), and when your information may be disclosed;
  • Minor wording changes on the information we hold about you, internet banking, mobile banking and phone banking;
  • When you request certain transactions or changes within internet banking or our mobile app we may require you to enter a One Time PIN sent to your mobile number before we will process the request. The main change is set out in section 51.

These changes are effective from 1 June 2018. Download a copy of the new General Terms and Conditions brochure (PDF 281.0 KB).

We no longer sell international bank drafts

Our international bank draft service is now unavailable, effective Tuesday, 1 May 2018. You'll still be able to stop an international bank draft but we won't be able to issue you a replacement or a new draft.

Existing Tertiary and Graduate Overdraft interest rate changes

Our existing Tertiary and Graduate overdrafts are now charged interest on balances, in line with the interest rate change to new Tertiary and Graduate overdrafts established after 1 February 2018. This is effective from 1 May 2018. Find out more.

Current interest rate

Interest rate from 1 May 2018

Not applicable

5% p.a.